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Sovereign Wealth Funds

Alaska Permanent returns -3.19% for the six months, below its benchmark

Alaska’s Resurrection Bay, near Seward

Alaska Permanent Fund Corp., Juneau, reported a net return of -3.19% for the six months ended Dec. 31, the $61.9 billion sovereign wealth fund announced in a news release Tuesday.

The fund's return fell below its performance benchmark of -2.44% by 75 basis points. Alaska Permanent measures its performance benchmark with an index blend that reflects its asset allocation, the news release said.

The fund also returned an annualized net 7.58% and 6.27%, respectively, for the three and five years ended Dec. 31, above the respective performance benchmarks of 6.9% and 5.26%. One-year figures were not provided.

Among the fund's asset classes, private equity and special opportunities led the way with an 11.86% net return for the six months ended Dec. 31, followed by infrastructure, 9.75%; and private credit, 4.67%.

Other asset class returns for the six months ended Dec. 31 were fixed income-plus, -0.15%; absolute return, -0.2%; real estate, -2.05%; asset allocation portfolio, -4.46%; global equities, -9.98%; domestic equities, -11.25%; and international equities, -11.76%.

Not all asset benchmark returns were provided, although the news release noted that private credit topped its benchmark.

As of Dec. 31, the actual allocation was 23.7% fixed income-plus, 15.2% global equity, 13.2 private equity/special opportunities, 11.5% domestic equity, 10.7% international equity, 6.4% real estate, 5.6% absolute return, 5.3% asset allocation strategies, 4.4% infrastructure, 2.3% private credit and 1.7% private income.